Conversely, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira weakened to N1,676.9 per dollar.
According to data from FMDQ, the indicative exchange rate for NAFEM increased to N1,676.9 per dollar, rising from N1,666.72 per dollar last weekend, which reflects a depreciation of N10.18 for the Naira.
Additionally, the turnover of dollars traded in the official market fell by 15.6 percent, decreasing to $79.47 million from $94.2 million traded the previous Friday.
As a result, the gap between the parallel market rate and the NAFEM rate decreased to N48.1 per dollar, down from N68.28 per dollar last weekend.